Exam (elaborations)
VA REAL ESTATE BOARD & DPOR REGULATIONS
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VA REAL ESTATE BOARD & DPOR REGULATIONS
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VA REAL ESTATE BOARD & DPORREGULATIONS 2023
VA Real Estate board established in what year - ANSWER-1924
VA RE Board has _____ members :
______ who licensed brokers or salespersons for at least ____ consecutive years?
_____ of citizen members - ANSWER-• seven members who have been licensed real estate brokers or
salespersons for at least 5 consecutive years before their appointment and
• two citizen members
The terms of Board members shall be _____years - ANSWER-4
The Board (may or may not) waive any requirement under the regulations relating to education or
experience when the broker or salesperson is found to have education or experience equivalent to that
required. ? - ANSWER-may
How does VA Board elect a chairman?
when are members appointed ? (term/year/how many at time? - ANSWER-chairman is elected from
within the board by Board members
every 2 years on July 1 , ONE citizen member and ONE licensee member appointed
3 things the Board DOES NOT have authority to do include
1. handle _______ between brokers and salespersons
, 2. standardize ________ _______, ______ _________ or any other forms
3. establish ________ rates or splits - ANSWER-Handle disputes between either salespeople and brokers
or between brokers
Standardize listing sales contracts, listing agreements, or any other forms used in real estate practice
Establish commission rates or commission splits
Every broker applicant must have acted in the capacity of real estate salesperson for ____ of the
previous ___ months before applying for a broker's license - ANSWER-36 out of 48
Broker's license educational criteria require that the applicant successfully complete _____ hours of
board-approved real estate study. - ANSWER-180
According to VA law, application and reexamination fees are subject to change but cannot exceed
$_______
and initial applications are required to pay additional $_____ fee which goes into the recovery fund -
ANSWER-90
20
Effective July 1, 2008, all salespersons who receive their initial license on or after July 1, 2008, must
complete the 30 hour post license curriculum within__________ of the Board issuing their license -
ANSWER-1 year
Broker must notify board of termination or status change of any salesperson or broker within _______
calendar days - ANSWER-10
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